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The Pątnów II Power Plant wins appeal
Elektrownia Pątnów II Sp. z o.o. (a subsidiary of Zespół Elektrowni "Pątnów – Adamów – Konin" SA) has won appeal in the case of annual adjustment of stranded costs for 2008.
During the session on October 11, 2012 the Court of Appeal in Warsaw announced the judgment in the case, admitting the appeal filed by the Pątnów II Power Plant against the judgment of the Regional Court in Warsaw, the Court of Competition and Consumer Protection of December 1, 2010 and thereby changed the decision of the President of the ERO of July 31, 2009 on the annual adjustment of stranded costs for 2008. At the same time the Court of Appeal in Warsaw determined the amount of the annual adjustment of stranded costs which Zarządca Rozliczeń S.A. – a company belonging to the PSE Operator capital group, which manages the funds for the coverage of stranded costs due to the termination of long-term contracts concluded in the power industry, is obligated to pay to the Pątnów II Power Plant. The amount of the adjustment is 29,082,473 PLN.
As a result of the above mentioned judgment of the Court of Appeal in Warsaw Zarządca Rozliczeń S.A. is obligated to pay the Pątnów II Power Plant the amount awarded by the court, i.e. 29,082,473 PLN for the annual adjustment of stranded costs for 2008 and additionally to reimburse to the Pątnów II Power Plant the amount of 26,493,000 PLN paid by the Pątnów II Power Plant under the decision of the Regional Court in Warsaw, the Court of Competition and Consumer Protection of September 23, 2009 on the partial dismissal of the motion for halting the execution of the decision of the President of the ERO of July 31, 2009. The Pątnów II Power Plant has filed a motion for delivery of the conclusion of the judgment in writing along with the application for appending it with an enforcement clause. The judgment of the Court of Appeal in Warsaw is final and binding. The President of the ERO has the right of filing a last resort appeal against the judgment.